What are retained earnings?

How does GDP differ from GNP

A new-car dealer in Oklahoma bought a new car from the manufacturer for $18,000 and sold it to Tyler for $22,000. Later that year, Tyler sold the car to Camille for $17,000. By how much did these transactions contribute to U.S GDP for the year?

Until recently, George lived in a home that was newly constructed in 2005. In 2005 he paid $200,000 for the brand new house. He sold the house in 2006 for $225,000.
How did the 2006 sale affect the GDP for 2005 or 2006?

In 2007, Corny Company grows and sells $2 million worth of corn to Tasty Cereal Company, which makes corn flakes. Tasty Cereal Company produces $6 million worth of corn flakes in 2007, with sales to households during the year of $4.5 million. The unsold $1.5 million worth of corn flakes remains in Tasty Cereal Company's inventory at the end of 2007. The transactions just described contribute how much to GDP for 2007?

What does the GDP deflator reflect?
What does CPI reflect?

The CPI differs from the GDP deflator in that
a. the CPI is a price index, while the GDP deflator is an inflation index.
b. substitution bias is not a problem with the CPI, but it is a problem with the GDP deflator.
c. increases in the prices of foreign produced goods that are sold to U.S. consumers show up in the CPI but not in the GDP deflator.
d. increases in the prices of domestically produced goods that are sold to the U.S. government show up in the CPI but not in the GDP deflator.
e. increases in the prices of foreign produced goods that are sold to U.S. consumers show up in the GDP deflator but not in the CPI.

c. increases in the prices of foreign produced goods that are sold to U.S. consumers show up in the CPI but not in the GDP deflator.

If the nominal interest rate is 6% and the rate of inflation is 2%, then the real interest rate is what?

If the nominal interest rate is 1.5% and the rate of inflation is -.5% what is the real interest rate?

You are told that Country A experienced growth of real GDP per person of 5 percent per year throughout the 1900s. In view of other countries' experience, you would have to characterize Country A's growth as

You bake cookies. One day you double the time you spend, double the number of chocolate chips, flour, eggs, and all your other inputs, and bake twice as many cookies. Your cookie production function has what?